Finance:ACA International

ACA International, formerly American Collectors Association, is a trade group located in the United States representing collection agencies, creditors, debt buyers, collection attorneys and debt collection industry service providers. The organization was founded in 1939 as the American Collectors Association and changed its name to ACA International in 2001. ACA is based in Minneapolis, Minnesota and Washington, D.C. ACA's members are located throughout the U.S. and more than 60 countries. The organization represents more than 230,000 men and women who work in this field.

Industry overview

Collection agency services to their clients include billing, customer service, insurance verification, training, data clearinghouse services and debt purchasing.

The public and private sectors rely on the recovery of consumer debt. If not repaid, it could destroy America's credit based economy; increase the price for goods and services to cover creditor losses; make credit more expensive and less available for consumers; put companies out of business as recovered debt used for rent, utilities, operations, salaries & benefits; and prompt governments relying on debt collections to increase taxes/cut spending to cover shortfalls.

In 2010, third-party collection agencies recovered $54.8 billion on behalf of creditors, according to an economic impact survey conducted by Ernst & Young. These agencies help employ more than 300,000 employees with a payroll of $10 billion. In addition, third-party collection agencies contributed more than $85 million to charitable organizations and volunteered more than 650,000 hours in 2010.

As the trade association representing these businesses, ACA International lobbies for public policy favorable to its members, provides training and credentialing resources, establishes ethical standards and promotes the value of the industry to businesses, policymakers and consumers.

ACA code of conduct

ACA members agree to abide by a code of conduct. The code establishes standards of conduct for the industry. The code requires members to treat consumers with dignity and respect, and to appoint an officer with authority to handle consumer complaints. Under the code, ACA ceased the practice of investigating consumer complaints against members. Now, it instead forwards the complaint to the company with no follow-up or investigation.

External links

• ACA website
• Economic Impact of the Third-Party Debt Collections Industry
• Fair Debt Collection Practices Act - United States Federal Trade Commission
• Consumer Financial Protection Bureau